Foreclosure Of Unbuilt 1,712-Acre NW Vegas Development Good News For Slow Growth Advocates

In Las Vegas, Nevada, the Las Vegas Review Journal reports:

• For northwest Las Vegas residents in favor of slowing growth, there is a silver lining in the recession-driven foreclosure of Kyle Canyon Gateway. Wachovia Bank foreclosed on the 1,712-acre development owned by Focus Property Group and several homebuilders on Sept. 23. The land is located off U.S. Highway 95 near Highway 57, the turnoff to Mount Charleston and the Spring Mountain National Recreation area. Focus and its partners purchased the land for $150 million at a Bureau of Land Management auction in 2005.

For more, see Kyle Canyon Gateway foreclosure slows northwest development.